Naman Ramachandran Beleaguered Regal cinema chain operator Cineworld Group has found a lifeline by securing a new debt facility of $450 million and the issue of equity warrants.The company has agreed bank covenant waivers until June 2022 and has extended the maturity of its $111 million incremental revolving credit facility from Dec.
2020 to May 2024.“The measures we are announcing today deliver over $750 million of extra liquidity to support our business,” Mooky Greidinger, CEO of Cineworld, said. “Over the long term, the operational improvements we have put in place since the start of the pandemic will further enhance Cineworld’s profitability and resilience.
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